How to install Forex Robot (Expert Advisor) and how to use it in MetaTrader

Want to know how to install Forex Robot (Expert Advisor) and how to use it on the MetaTrader trading platform? but before we discuss how, you already know how to use this MetaTrader trading platform, whether it’s MetaTrader4 or MetaTrader5?

As the first step you have to do is download the Forex Robot (Expert Advisor) that you will use to run the forex trading business automatically first whether it’s a forex robot that you get for free or by paying / buying. If you are interested in buying a Forex Robot (Expert Advisor) then you don’t need to be confused about looking for a store that sells Forex Robot (Expert Advisor) because in the MetaTrader Trading Platform page you can choose various types of Forex Robot (Expert Advisor) made based on certain technical analysis .

And if you are interested in using Forex Robot (Expert Advisor) for free, you don’t need to bother because you can visit the http://codebase.mql4.com website for MetaTrader4 or http://mql5.com/en/code for MetaTrader5 .

So, after you download the Forex Robot (Expert Advisor) it is time for you to start installing the Forex Robot (Expert Advisor) into your MetaTrader trading platform. Oh yes, for Forex Robot (Expert Advisor) to be installed in MetaTrader4 usually the Forex Robot file (Expert Advisor) ends in mq4 and ends with mq5 for Forex Robot (Expert Advisor) which will be installed in MetaTrader5.

How to install Forex Robot (Expert Advisor) in MetaTrader4 or MetaTrader5 Trading Platform

Step 1.

Please open your MetaTrader5 Trading Platform (in this case I took the example of forex robot installation on the MetaTrader5 trading platform).

Step 2.
Open the File menu> Open Data Folder

You will be taken to the MetaTrader platform trading installation folder then please open the MQL5 folder.

Step 3.

Then please open the Experts folder

Step 4.

Please copy the Forex Robot (Expert Advisor) that you just downloaded into the Experts folder. Oh yeah, because the Forex Robot type is MQL5 type, then your Forex Robot must also be type .mql5 too.

Step 5.

Please return to the MetaTrader Trading Platform and then Refresh Expert Advisor through the Navigator window. If Refresh doesn’t work to activate the Forex Robot, then please close the MetaTrader Trading Platform and then run it again.

Step 6.

Please use the Forex Robot (Expert Advisor) to run your forex trading business. Good luck.

Step 7.

Forex Robot Test (Expert Advisor) in the MetaTrader4 and MetaTrader5 Trading Platforms

Before we use Forex Robot (Expert Advisor) to run a forex trading business using real money, the first step we have to do is to test it first using historical data and of course using virtual money. The purpose of testing the Forex Robot (Expert Advisor) is to see the advantages and disadvantages of these tools to generate profits or losses when running a forex trading business. In this example I will try to test the MACD Forex Robot (Expert Advisor) which is already in the Examples of the Navigator window (MetaTrader default Forex Robot).

Step 1.

Please select the Forex Robot (Expert Advisor) that will be tested for its ability to make profits by right-clicking and clicking Test.

Step 2.
Please fill in some testing parameters such as currency type (EURUSD), timeframe (H8), start and end date historical data (2018.01.01 to 2018.08.10), deposit (10000 USD) then press the Start button.

Step 3.
After waiting a while, we can see the results of the test from the Forex Robot (Expert Advisor) through the Terminal window in the Trade section to see the results as below. And the results of the trial were obtained with a Profit / Loss of 377.41 USD from a capital of 10000 USD.

To see how many forex trading positions are executed by MACD Forex Robot (Expert Advisor) during the period 2018.01.01 to 2018.08.10 with the H8 timeframe then we can see it through the History tab as shown below.

From the History tab, we can see that the number of forex trading positions that have been executed by the Forex Robot (Expert Advisor) MACD is as many as 26 forex trading positions.

To ensure that the Forex Robot (Expert Advisor) can truly be trusted to run a forex trading business automatically, we must test it repeatedly until we are sure of the performance of these tools by changing the various parameters as we did in Step 2 above. .

How to use Forex Robot (Expert Advisor) in MetaTrader4 and MetaTrader5 Trading Platforms.

If you are sure that the Forex Robot (Expert Advisor) that you buy or get for free can generate profits, it is time to use the Forex Robot (Expert Advisor) to run the forex trading business automatically in a way.

Step 1.
Activate the currency price chart that you want to install Forex Robot (Expert Advisor) first, for example EURUSD. Then please click on the Forex Robot (Expert Advisor) that you want to install through the Navigator window then select Attach to Chart.

Step 2.
Please change some parameters of Forex Robot (Expert Advisor) if needed and if not then please press the OK button.

Step 3.
Congratulations, Forex Robot (Expert Advisor) is active in running your forex trading business. To ensure that the Forex Robot (Expert Advisor) is active, please look in the upper right corner of the price chart of the currency that we have installed the Forex Robot (Expert Advisor) whether or not there is a Forex Robot (Expert Advisor) name. If in the corner there is the name of the Forex Robot (Expert Advisor), then we have successfully installed the Forex Robot (Expert Advisor).

Finished!That was a number of steps we can take to install a Forex Robot (Expert Advisor) in the MetaTrader Trading Platform, test it, and then use it to run a forex trading business.